Rebuild Credit Island Lodge
June 11, 2014
Davenport will probably be able to re-build the Credit Island Lodge after all. Tonight the city council will consider awarding a contract for the repair and re-construction of the building that was seriously damaged by fire last year.
The city's finance director, Brandon Wright, says the project had been in doubt because of the difference between what it was insured for, and the actual cost. But now Travellers Insurance has agreed to cover the full cost. Wright says the lodge was insured for 1.2 million dollars, but the low bid to re-build was 1.5 million.
"So we had to go back to the insurance company and say, hey, we have additional costs - now that we have actual market pricing for them, we need you to re-evaluate the numbers you gave us in the beginning and determine whether we we are okay to proceed under our insurance policy with full policy coverage with these new amounts."
Travellers also agreed to cover the engineering work, about 145,000 dollars, that the city already paid so it bid the project.
If the council gives its final approval tonight, he says the contract can be signed and work on the lodge could begin within several weeks.